Mobile advertising company Velti has said that its acquisition of Ad Infuse, and strengthening customer demand, led to a growth in revenues of 25% in 2009.
The AIM-listed company said that it lifted its revenues to $65 million for the calendar year, running 2,000 campaigns for a total of 450 brands, agencies and operators.
The company said that by extending its work with mobile operators, it is able to provide ongoing revenue without having to pitch for each new campaign. In 2009 the company provided ad-serving services for Orange in France, UK, Spain, Poland, Romania and Moldova. The company also extended its reach in the Orascom/WIND group by providing services in Italy, Egypt, Algeria and Greece. Other operators in hte European region that continue to work with Velti include Vodafone, MTS, Telecom Austria, Telefonica, Avea, and Cosmote.
CEO Alexandros Moukas said that the company was well-positioned to benefit from a shift in advertising spend to online and mobile. He added that the consolidation in the market, including Google's acquisition of AdMob and Apple's of Quattro Wireless, is further evidence that the market is set for expansion.
Velti's stock price has risen from a low of 109p in April 2009 to a current price of 259p, just off a 12 month high of 261p that was reached on 11 January 2010 – the same day the company fully launched its mGage product.